Company registration number 07296364 (England and Wales)
TCR SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
TCR SYSTEMS LIMITED
COMPANY INFORMATION
Directors
Mr N W Thompson
Mrs C J M Thompson
Company number
07296364
Registered office
Unit 24
Coleshill Industrial Estate
Station Road, Coleshill
Birmingham
West Midlands
B46 1JP
Accountants
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
TCR SYSTEMS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
TCR SYSTEMS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,645
8,840
Current assets
Stock
50,898
50,707
Debtors
4
93,938
92,314
Cash at bank and in hand
222
85,364
145,058
228,385
Creditors: amounts falling due within one year
5
(121,679)
(169,539)
Net current assets
23,379
58,846
Total assets less current liabilities
31,024
67,686
Creditors: amounts falling due after more than one year
6
(30,877)
(50,984)
Net assets
147
16,702
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
47
16,602
Total equity
147
16,702

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TCR SYSTEMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 March 2024 and are signed on its behalf by:
Mr N W Thompson
Mrs C J M Thompson
Director
Director
Company Registration No. 07296364
TCR SYSTEMS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2021
100
123,377
123,477
Year ended 30 June 2022:
Loss and total comprehensive income for the year
-
(41,775)
(41,775)
Dividends
-
(65,000)
(65,000)
Balance at 30 June 2022
100
16,602
16,702
Year ended 30 June 2023:
Profit and total comprehensive income for the year
-
12,445
12,445
Dividends
-
(29,000)
(29,000)
Balance at 30 June 2023
100
47
147
TCR SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information

TCR Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 24, Coleshill Industrial Estate, Station Road, Coleshill, Birmingham, West Midlands, B46 1JP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on reducing balance
Fixtures and fittings
15% on reducing balance
IT equipment
33% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stock

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its present location and condition.

 

 

TCR SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
IT equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2022 and 30 June 2023
6,250
2,195
6,810
4,600
19,855
Depreciation and impairment
At 1 July 2022
816
1,623
6,294
2,282
11,015
Depreciation charged in the year
360
86
169
580
1,195
At 30 June 2023
1,176
1,709
6,463
2,862
12,210
Carrying amount
At 30 June 2023
5,074
486
347
1,738
7,645
At 30 June 2022
5,434
572
516
2,318
8,840
TCR SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
48,236
60,453
Other debtors
45,702
31,861
93,938
92,314
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
11,011
10,000
Trade creditors
74,014
77,445
Taxation and social security
13,275
50,296
Other creditors
23,379
31,798
121,679
169,539
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
29,271
38,333
Other creditors
1,606
12,651
30,877
50,984
7
Loans and overdrafts
2023
2022
£
£
Bank loans
38,880
48,333
Bank overdrafts
1,402
-
0
Other loans
19,908
27,945
60,190
76,278
Payable within one year
29,313
25,294
Payable after one year
30,877
50,984

Both the bank loans and the other loans are underwritten by H M Government under the Bounce Back Loans legislation.

TCR SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
50
50
50
50
Ordinary A shares of £1 each
50
50
50
50
100
100
100
100
9
Directors' transactions

The company provided current account facilities to the directors during the year, advancing them £84,265 and receiving repayments totalling £62,404, leaving £10,401 owed by them at the year end (2022 - £11,460 owed to them). The loan is unsecured, interest-free, and carries no stipulation as to term of repayment.

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